Is this the end for French football on a European Scale?
Posted: Mon Dec 30, 2013 1:48 pmhttp://www.bbc.co.uk/news/business-25541739
France's highest court has approved a 75% tax on high earners that is one of President Francois Hollande's signature policies.
The initial proposal to tax individual incomes was ruled unconstitutional by the Constitutional Council almost exactly one year ago.
But the government modified it to make employers liable for the 75% tax on salaries exceeding 1m euros (£830,000).
The levy will last two years, affecting income earned this year and in 2014.
Football clubs in France threatened to go on strike earlier this year over the issue, saying many of France's clubs are financially fragile and say the plans could spark an exodus of top players who are paid huge salaries.
The Qatari-owned Paris Saint-Germain has more than 10 players whose pay exceeds 1m euros, including the Swedish striker Zlatan Ibrahimovic.
There has also been a chorus of protest from businesses and wealthy individuals who have condemned the tax - including film star Gerard Depardieu, who left the country in protest.
Polls suggest a large majority in France back the temporary tax.
Unlike many other countries in Europe, France aims to bring down its huge public deficit by raising taxes as well as some spending cuts.
The highest tax rate in the UK is 45% and is applied to individuals.
Seems as though this will hit the clubs pretty hard, and they won't be able to afford top wages for top players. I hope our government doesn't follow suit with this, we would lose all of our first team, and lose anyone that comes from the new academy who wants to earn a top wage.
What is it with French cocks messing with football???
France's highest court has approved a 75% tax on high earners that is one of President Francois Hollande's signature policies.
The initial proposal to tax individual incomes was ruled unconstitutional by the Constitutional Council almost exactly one year ago.
But the government modified it to make employers liable for the 75% tax on salaries exceeding 1m euros (£830,000).
The levy will last two years, affecting income earned this year and in 2014.
Football clubs in France threatened to go on strike earlier this year over the issue, saying many of France's clubs are financially fragile and say the plans could spark an exodus of top players who are paid huge salaries.
The Qatari-owned Paris Saint-Germain has more than 10 players whose pay exceeds 1m euros, including the Swedish striker Zlatan Ibrahimovic.
There has also been a chorus of protest from businesses and wealthy individuals who have condemned the tax - including film star Gerard Depardieu, who left the country in protest.
Polls suggest a large majority in France back the temporary tax.
Unlike many other countries in Europe, France aims to bring down its huge public deficit by raising taxes as well as some spending cuts.
The highest tax rate in the UK is 45% and is applied to individuals.
Seems as though this will hit the clubs pretty hard, and they won't be able to afford top wages for top players. I hope our government doesn't follow suit with this, we would lose all of our first team, and lose anyone that comes from the new academy who wants to earn a top wage.
What is it with French cocks messing with football???